According to Munich's Ifo Institute for Economic Research, Germany's rating on its business climate index slumped from 86.5 in October to 85.7 in November, 0.3 points more than analysts had predicted.
Business expectations, however, only decreased marginally from 87.3 to 87.2, which Robin Winkler, chief economist for Germany at Deutsche Bank Research, finds remarkably stable given the collapse of Germany's coalition government earlier this month.
Carsten Brzeski, global head of macro at ING, points out that the impact on Germany of Trump's return to the White House, tax cuts and deregulation in the United States and a potential trade war with the European Union is likely to be 'a negative one.'
Ifo president Clemens Fuest concluded: 'The German economy is lacking strength,' indicating a concerning outlook for the country's economic performance amidst international and domestic challenges.
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